Magnera Corp (NYSE:MAGN) CEO Acquires $501,408.88 in Stock

Magnera Corp (NYSE:MAGN) CEO Curt Begle acquired 23,786 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the acquisition, the chief executive officer now owns 24,066 shares of the company’s stock, valued at $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Magnera Stock Performance

Shares of NYSE:MAGN opened at $22.54 on Friday. Magnera Corp has a 12 month low of $15.80 and a 12 month high of $31.07. The company has a current ratio of 2.49, a quick ratio of 1.04 and a debt-to-equity ratio of 1.80. The firm has a market cap of $78.87 million, a P/E ratio of -1.23 and a beta of 1.67.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 22.40%. During the same quarter last year, the business earned ($0.25) earnings per share.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price objective on shares of Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 7th.

Institutional Investors Weigh In On Magnera

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAGN. Wilmington Savings Fund Society FSB acquired a new stake in Magnera in the 4th quarter valued at $26,000. Vestcor Inc acquired a new stake in Magnera in the 4th quarter valued at $46,000. State of Alaska Department of Revenue acquired a new stake in Magnera in the 4th quarter valued at $48,000. KBC Group NV acquired a new stake in Magnera in the 4th quarter valued at $51,000. Finally, National Bank of Canada FI acquired a new position in shares of Magnera during the 4th quarter worth about $52,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

About Magnera

Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions propel our customers’ goals forward and solve end-users’ problems, every day.